FX.co ★ South Africa Retail Sales Fall For Third Month

South Africa's retail sales declined for the third straight month in February, though at a slower pace than in the previous month, data from Statistics South Africa showed on Wednesday.

Retail sales fell an unadjusted 0.5 percent year-on-year in February, following a 0.8 percent fall in January. The expected decrease was 0.3 percent.

Sales of hardware, paint, and glass alone fell by 7.7 percent, and those of pharmaceuticals and medical goods, cosmetics, and toiletries slid by 3.0 percent.

On the other hand, sales of textiles, clothing, footwear, and leather goods showed a positive growth of 5.5 percent.

On a monthly basis, retail sales edged down a seasonally adjusted 0.1 percent in February, in contrast to a 1.5 percent rebound in January.

In the three months to February, retail sales advanced 1.2 percent from the preceding three months.